Active Participation of Leading Players in the Supply Chain Decision Making Process is Helping Global Contract Packaging Market to Develop at Great Pace

According to the latest report by Transparency Market Research, the global contract packaging market is moving towards achieving a stellar valuation. The global market is growing at an impressive CAGR of 7% for the course of the given forecast time frame of 2019 to 2027.

Mergers and Acquisitions are Imperative for Market Players

Contract packaging offers manufacturers and brands with improved results as far as the overall channel fulfillment and packaging of the brand is concerned. These contract packagers are slowly becoming the mainstay in the overall distribution channel. The companies operating in the global contract packaging market are placed quite uniquely in the overall value chain. These companies are trying to expand their business offerings in order to cater to the several demands and changing needs of the end-use customers. The leading players in the global contract packaging market are providing a wide range of services such as last minute optimization to creative packaging. To state an example, Coregistics, a contract packaging company based out in Atlanta, announced that it has taken over Cano Packaging Corporation. This takeover allowed Coregistics to have a better and improved access the POP packaging services and lay down a strong foothold.

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Contract packaging services make sure of optimization of managed and integrated services. It also provides great scalability for the producers who are facing a problem of production postponement. It thus helps in saving the overall cost of the production. Naturally, with such benefits, there has been a growing demand for contract packaging across it end-use application industries. This has thus been one of the biggest driving factors for the growth of the global contract packaging market.

Shedding off the Old Passive Role

One of the emerging trends in the global contract packaging market has been of the movement from passive role to an active strategic role in the overall value chain. The leading companies in the global contract packaging market are now actively involved in the strategic decisions regarding value chain supply such as selection of vendor or vendor qualification. These companies are also involved in decisions regarding quality assurance, product formulation, product development, and branding among others. In addition to this, the leading companies in the global contract packaging market are quickly adopting to the omni-channel distribution tactics in order to make themselves stand out in eyes of their customers from both online as well as offline channels. Furthermore, contract packaging companies are slowly shifting their focus on value-added services, product innovation, and product specialization. Such trends indicate that the global market for contract packaging is on course to achieve a stellar growth in the coming years of the forecast period.

Some of the leading names in the global contract packaging market include names such as Sonoco Products Company, Pharma Tech Industries, Multi-Pack Solutions LLC, and Stamar Packaging Inc. among others.

Market Segmentation is as follows:

Contract Packaging Market by Product

Bottles

Bags & Pouches

Sachets & Stick Packs

Boxes & Cartons

Blisters & Clamshells

Vials & Ampoules

Flow Wraps

Others

Contract Packaging Market by Service

Bottling & Filling

Bagging/Pouching

Lot/Batch & Date Coding

Boxing & Cartoning

Wrapping & Bundling

Labelling

Clamshells & Blisters

Contract Packaging Market by End Use

Food & Beverages

Pharmaceuticals

Cosmetics

Agriculture

Personal Care

Others (Automobile Parts, etc.)

Contract Packaging Market by Region

North America

U.S.

Canada

Latin America

Mexico

Brazil

Argentina

Rest of Latin America

Europe

Germany

Italy

France

U.K.

Spain

Benelux

Nordic

Russia

Poland

Rest of Europe

Asia Pacific (APAC)

China

India

ASEAN

Australia & New Zealand

Japan

Rest of APAC

Middle East & Africa (MEA)

GCC Countries

North Africa

South Africa

Rest of Middle East & Africa

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights to thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.